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FX Options Product Specifications


Current Offerings:

Australian Dollar | British Pound  | Canadian Dollar  | Euro | Japanese Yen |

Swiss Franc | New Zealand Dollar |

 

Description: Australian dollar currency options are quoted in terms of U.S. dollars per unit of the underlying currency and premium is paid and received in U.S. dollars.

Contract Size: 10,000 Australian dollars

Trading Symbol: XDA

Settlement Value Symbol: AJW

CUSIP Number: 69391M 11 1

Exercise Style: European

Expiration Date: Saturday following the third Friday of the expiration month.

Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).

Settlement: U.S. dollars

Settlement Value for Expiring Contracts:The spot price at 12:00:00 Eastern Time (noon) on the last trading day prior to expiration will be the closing settlement. The settlement value is disseminated under the symbol AJW. Consult PHLX Rule 1057 for further information.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Contract Point Value: $100 (i.e., .01 x 10,000)

Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.

Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.

Position Limits: 600,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.

Trading Hours: 9:30 a.m. to 4:00 p.m. Eastern Time

Issuer and Guarantor: The Options Clearing Corporation (OCC)

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British Pound

Description: British pound currency options are quoted in terms of U.S. dollars per unit of the underlying currency and premium is paid and received in U.S. dollars.

Contract Size: 10,000 British pounds

Trading Symbol: XDB

Settlement Value Symbol: BFW

CUSIP Number: 69336X

Exercise Style: European

Expiration Date: Saturday following the third Friday of the expiration month.

Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).

Settlement: U.S. dollars

Settlement Value for Expiring Contracts: The spot price at 12:00:00 Eastern Time (noon) on the last trading day prior to expiration will be the closing settlement. The settlement value is disseminated under the symbol BFW Consult PHLX Rule 1057 for further information.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Contract Point Value: $100 (i.e., .01 x 10,000)

Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.

Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.

Position Limits: 600,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.

Trading Hours: 9:30 a.m. to 4:00 p.m. (Eastern Time)

Issuer and Guarantor: The Options Clearing Corporation (OCC)

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Canadian Dollar

Description: Canadian dollar currency options are quoted in terms of U.S. dollars per unit of the underlying currency and premium is paid and received in U.S. dollars.

Contract Size: 10,000 Canadian dollars

Trading Symbol: XDC

Settlement Value Symbol: CBW

CUSIP Number: 69391P 11 4

Exercise Style: European

Expiration Date: Saturday following the third Friday of the expiration month.

Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).

Settlement: U.S. dollars

Settlement Value for Expiring Contracts: The spot price at 12:00:00 Eastern Time (noon) on the last trading day prior to expiration will be the closing settlement. The settlement value is disseminated under the symbol CBW. Consult PHLX Rule 1057 for further information.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Contract Point Value: $100 (i.e., .01 x 10,000)

Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.

Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.

Position Limits: 600,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.

Trading Hours: 9:30 a.m. to 4:00 p.m. Eastern Time

Issuer and Guarantor: The Options Clearing Corporation (OCC)

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Euro

Description: Euro currency options are quoted in terms of U.S. dollars per unit of the underlying currency and premium is paid and received in U.S. dollars.

Contract Size: 10,000 Euros

Trading Symbol: XDE

Settlement Value Symbol: EPW

CUSIP Number: 69336Y

Exercise Style: European

Expiration Date: Saturday following the third Friday of the expiration month.

Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).

Settlement: U.S. dollars

Settlement Value for Expiring Contracts: The spot price at 12:00:00 Eastern Time (noon) on the last trading day prior to expiration will be the closing settlement. The settlement value is disseminated under the symbol EPW. Consult PHLX Rule 1057 for further information.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Contract Point Value: $100 (i.e., .01 x 10,000)

Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.

Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.

Position Limits: 1,200,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.

Trading Hours: 9:30 a.m. to 4:00 p.m. (Eastern Time)

Issuer and Guarantor: The Options Clearing Corporation (OCC)

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Japanese Yen

Description: Japanese yen currency options are quoted in terms of U.S. dollars per unit of the underlying currency and premium is paid and received in U.S. dollars.

Contract Size: 1,000,000 Japanese yen

Trading Symbol: XDN

Settlement Value Symbol: JYW

CUSIP Number: 69337W 11 6

Exercise Style: European

Expiration Date: Saturday following the third Friday of the expiration month.

Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).

Settlement: U.S. dollars

Settlement Value for Expiring Contracts: The spot price at 12:00:00 Eastern Time (noon) on the last trading day prior to expiration will be the closing settlement. The settlement value is disseminated under the symbol JYW. Consult PHLX Rule 1057 for further information.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Contract Point Value: $100 (i.e., (.00)01 x 1,000,000)

Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.

Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.

Position Limits: 600,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.

Trading Hours: 9:30 a.m. to 4:00 p.m. Eastern Time

Issuer and Guarantor: The Options Clearing Corporation (OCC)

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Swiss Franc

Description: Swiss franc currency options are quoted in terms of U.S. dollars per unit of the underlying currency and premium is paid and received in U.S. dollars.

Contract Size: 10,000 Swiss francs

Trading Symbol: XDS

Settlement Value Symbol: SFW

CUSIP  Number: 69337E 11 6

Exercise Style: European

Expiration Date: Saturday following the third Friday of the expiration month.

Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).

Settlement: U.S. dollars

Settlement Value for Expiring Contracts: The spot price at 12:00:00 Eastern Time (noon) on the last trading day prior to expiration will be the closing settlement. The settlement value is disseminated under the symbol SFW. Consult PHLX Rule 1057 for further information.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Contract Point Value: $100 (i.e., .01 x 10,000)

Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.

Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.

Position Limits: 600,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.

Trading Hours: 9:30 a.m. to 4:00 p.m. Eastern Time

Issuer and Guarantor: The Options Clearing Corporation (OCC)

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New Zealand Dollar

Description: New Zealand dollar currency options are quoted in terms of U.S. dollars per unit of the underlying currency and premium is paid and received in U.S. dollars.

Contract Size: 10,000 New Zealand Dollars

Trading Symbol: XDZ

Settlement Value Symbol: JQL

CUSIP  Number: 693369 10 0

Exercise Style: European

Expiration Date: Saturday following the third Friday of the expiration month.

Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).

Settlement: U.S. dollars

Settlement Value for Expiring Contracts: The spot price at 12:00:00 Eastern Time (noon) on the last trading day prior to expiration will be the closing settlement. The settlement value is disseminated under the symbol JQL. Consult PHLX Rule 1057 for further information.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Contract Point Value: $100 (i.e., .01 x 10,000)

Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.

Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.

Position Limits: 600,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.

Trading Hours: 9:30 a.m. to 4:00 p.m. Eastern Time

Issuer and Guarantor: The Options Clearing Corporation (OCC)

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* Product specifications are subject to change.

** Fluctuations in the underlying may cause a "wrap around" situation whereby alternate symbols may be used.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options ("ODD"). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, IL 60606. The information on this Website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the Website information. The Philadelphia Stock Exchange assumes no responsibility for any errors or omissions in the Website. No statement within the Website should be construed as a recommendation to buy or sell a security or to provide investment advice.

Prior to recommending or trading the FX Options Product, be sure to contact your firm's compliance department regarding registration, qualification and approval requirements at your firm.

FX Options is a registered trademark of the Philadelphia Stock Exchange, Inc.